Moody's downgrades Boart Longyear

Moody's Investors Services has downgraded Boart Longyear Ltd's corporate debt rating after the company cut its full-year earnings guidance for the second time in less than two months.

Moody's Investors Services has downgraded Boart Longyear Ltd's corporate debt rating after the company cut its full-year earnings guidance for the second time in less than two months.

Boart expects its BB- debt rating from Standard & Poor's is also under review.

On puttting Boart on a negative ratings outlook and cutting its ratings across three debt categories, Moody's cited the slowdown in mining investment.

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